Grand Central Dispatch (GCD) is Apple's API for managing application threads and tasks. It provides queues for serially or concurrently executing tasks and handles lower-level threading details. GCD aims to simplify threading by focusing on tasks rather than threads directly. It allows specifying parallelization of tasks without worrying about threads. Key aspects include dispatch queues for serial or concurrent execution of blocks, dispatch groups for synchronization, and avoiding shared mutable state which can cause threading issues.